Bitcoin Caution

Hacker News is interesting because the community will periodically promote some anti-community ideas to the top. I was encouraged to see a cautionary bitcoin post in the top spot this morning.

Read the article, think for yourself, then read the comments.

Predictably the top comments attack technical details; in the process missing the message.

I'm strongly of the opinion that Bitcount will not end well. It has the bad qualities of gold, including a cost of mining. It has no central bank to help it, which some may celebrate now, but wish they had later. Unlike gold, which continues to be mined, there are a fixed number of eventual bitcoins. This is not good. Bitcoin is misunderstood by most holders. Holders don't use it as currency very often. And the list goes on.